Note 18 - Condensed Parent Company Statements (Tables)

12 Months Ended

Dec. 31, 2013

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Balance Sheet [Table Text Block]

Condensed Balance Sheets	December 31,
	2013			2012
Assets
Cash	$	822,196		$	681,509
Available-for-sale securities		99,306			70,914
Due from subsidiary		-			20,795
Investment in subsidiary		62,905,512			64,069,125
Investment in Capital Trust I & II		465,000			465,000
Prepaid expenses and other assets		173,698			35,579
Refundable income taxes		1,542,319			1,152,319
Deferred income taxes		-			2,592
	$	66,008,031		$	66,497,833
Liabilities
Subordinated debentures	$	15,465,000		$	15,465,000
Accrued expenses and other liabilities		172,986			164,263
Due to subsidiary		6,900			-
Deferred income taxes		7,912			-
Stockholders' equity
Series A preferred stock		11,983,790			11,789,276
Common stock		678,360			678,180
Common stock warrants		-			1,377,811
Additional paid-in capital		57,655,031			58,267,529
Retained earnings		43,769,485			39,324,292
Unrealized appreciation on available-for-sale securities, net		(2,506,248	)		800,826
Treasury stock		(61,225,185	)		(61,369,344	)
	$	66,008,031		$	66,497,833

Condensed Income Statement [Table Text Block]

Condensed Statements of Income	Years ended December 31,
	2013			2012			2011
Income
Dividends from subsidiary bank	$	4,003,250		$	6,500,000		$	1,000,000
Interest income:
Related party		-			8,471			14,753
Other		16,152			19,510			18,369
		4,019,402			6,527,981			1,033,122
Expense
Interest expense:
Related party		537,178			556,159			610,929
Other		815,865			878,305			462,971
		1,353,043			1,434,464			1,073,900
Income before income taxes and equity in undistributed income (loss) of subsidiaries		2,666,359			5,093,517			(40,778	)
Credit for income taxes		(412,000	)		(435,000	)		(349,000	)
Income before equity in undistributed earnings of subsidiaries		3,078,359			5,528,517			308,222
Equity in undistributed income (distribution in excess of income) of subsidiaries		2,161,348			(3,584,658	)		3,527,417
Net income	$	5,239,707		$	1,943,859		$	3,835,639

Condensed Cash Flow Statement [Table Text Block]

Condensed Statements of Cash Flows	Years ended December 31,
	2013			2012			2011
Cash Flows From Operating Activities
Net income	$	5,239,707		$	1,943,859		$	3,835,639
Items not requiring (providing) cash:
(Equity in undistributed income) distributions in excess of income of subsidiaries		(2,161,348	)		3,584,658			(3,527,417	)
Deferred income taxes		-			-			38,834
Release of ESOP shares		-			153,848			126,737
Stock award plan expense		254,509			253,017			186,654
Changes in:
Prepaid expenses and other assets		(138,119	)		147,929			104,176
Income taxes payable/refundable		(390,000	)		(435,000	)		(217,833	)
Accrued expenses		8,723			9,058			(59,682	)
Net cash provided by operating activities		2,813,470			5,657,369			487,108
Cash Flows From Financing Activities
Stock options exercised		9,408			12,388			-
Cash dividends paid on common and preferred stock		(600,000	)		(744,444	)		(850,000	)
Treasury stock purchased		(106,636	)		(25,736	)		(53,230	)
Repayment of advances from subsidiary		27,695			500			-
Repurchase of stock warrants		(2,003,250	)		-			-
Redemption of preferred stock		-			(5,000,000	)		-
Net cash used in financing activities		(2,672,783	)		(5,757,292	)		(903,230	)
Increase (Decrease) in cash		140,687			(99,923	)		(416,122	)
Cash, beginning of year		681,509			781,432			(417,988	)
Cash, end of year	$	822,196		$	681,509		$	(834,110	)

Condensed Financial Statements [Table Text Block]

Statements of Comprehensive Income	Years ended December 31,
	2013			2012		2011
NET INCOME	$	5,239,707		$	1,943,859	$	3,835,639
OTHER ITEMS OF COMPREHENSIVE INCOME (LOSS):
Change in unrealized gain (loss) on investment securities available-for-sale, before income taxes		28,392			8,652		(15,658	)
Income tax expense (credit) related to other items of comprehensive income		10,505			3,200		(5,794	)
Other comprehensive income (loss)		17,887			5,452		(9,864	)
Comprehensive income (loss) of Bank		(3,324,961	)		4,089		(1,041,855	)
TOTAL COMPREHENSIVE INCOME	$	1,932,633		$	1,953,400	$	2,783,920